united states. we do not allow u.s. citizens to bank with financial institutions based in iran. we have very clear rules that prevent you from transacting with financial banks in various countries because we regard that is not consistent with our national interest. i think those criteria have to be reassessed. we should push our allies to come with us and to make the bank safer. ..

>> it is great to be back here at the colony library i had a great time last year. the basic question why chronicle and commemorate the word list of calvin coolidge a president renowned for doing nothing and for saying less.

to us because the premise of the question is ee flawed. they would be you silent cal coolidge as a fill your who as a man who not only accomplish nothing but one pundits famously charged possess a veritable genius for inactivity. that all depends on how one defines an activity, and presumably he meant to dam calvin coolidge as the and imaginative listless neater and that is bad. but if it activity is defined as a spirited brilliantly eloquent act of opposition to government intervention in the economy and the concurrent and resulting tax rate which result, that is profoundly good and it is a articulating and implementing that philosophy. and calvin coolidge was most

decidedly a genius. he did not do himself as a genius but he is a great and vintage to a president and a major source of safety to the country that he is not a great man. but calvin coolidge did possess a remarkable coherent philosophy and historian paul johnson praised his oppose decipher as "the most internally consistent single-minded of a modern american presidents and calvin coolidge may indeed have been the last jeffersonian a man whose president believe strongly enough in the limits of government low-power particularly of federal power to resist the temptation to extend its even when he himself would be the man implementing that policy. who is believed of property of the nation strict

obedience to the law in service of others in idealism rather than materialism. quaint ideas or maybe not. we have seen what believers in the all-powerful state some of the worst where their own contemporaries wall this simple vermonter was circumscribing his own power and others around the world were not so reticent. even in his own day the notions of limited government was hopelessly outdated and antiquated. he did not care. he said what he meant and men 20 thought and remains the most deadly kit for properly restrained government taxation and concurrently for individual economic responsibility and liberty have advocated a rigorously circumscribed federal government that empower the people to be

free to do whatever they wanted to be. a simple philosophy it took mankind until the late 18th century to figure out and the washington and adams and hamilton franklin and a supporting cast behind them to make it work. so simple we seem to have forgotten it all but as a glance back on what mr. coolidge articulating realize not only could he clearly ski -- to see what the founders devised but the broader human condition and could see far ahead in to the future where his verities would quickly be discarded and disdain. in january 1914 assuming control with the office of the presidency he told his

legislators the normal must care for themselves. a normal must care for themselves. he says if you are a reasonable he menu should close and feed and shelter yourself and be able to make decisions about your own property your future and your children and your own money about choices and options. adults can take care of themselves but note that -- notice the subtext what about those that are not quote of a quote normal? they cannot adequately fend for themselves here is the concept of the service wants again. must assist them preferably quietly only then to the auspices of the proper level of government and all that thin six words.

document 20 said brass massachusetts lt. governor he remarked the state mental institutions for our party will have no part in the economy that as to the misery of the wars of the commonwealth. with the sick, insane and unfortunate and those that are too weak even to protest because i know these conditions and a republican administration with increasing state tax rather than not see them remedy. but calvin coolidge did not raise taxes and did not abandon nor neglect the wards of the state. just the opposite occurred below our taxes again and again while providing needed services by practicing what he called economy. stringent attack on government waste and a refusal to fund programs no matter how politically popular, that he found to be a re on the treasury or

assault on the constitution. yes. calvin coolidge would know the rich politician the method of raising revenue on not to appeal by i'm opposed too extremely high rates because they produce little or no revenue because they are bad for the country, and finally, because they are wrong. again, american and participation with the first world war have skyrocketed the highest marginal income tax rate from 7% at 77. the coolidge predecessor korean -- warren harding from antar mellon slashed that to 66% and two which finish the job taking the marginal rate down a 20%.

of 15 .4% of all personal income taxes were paid by those earning $5,000 per year or less. by the time coolidge left office that figure had strong day shrunk to a minuscule o. 0.4%. those earning 100 grand her year or more 29 point* 9%. by 1929 when coolidge left office, the figure had climbed as 65%. thus when he leaves office, 98% of the american people pay no income tax at all. "is only a tiny exaggeration noticed historian said that the coolidge completely removed the burden of federal income taxation from the backs of poor and

working people. calvin coolidge cut federal income taxes pretty produce the budget surplus each of the six years of his presidency and could do this because he not only understood economics and government but human nature february 1924 he informed the national republican club that if we had attacks whereby on the first working day the government took 5% of your wages the second day, 10 percent the third day 20% on the fourth day 30% the fifth day 50% of the sixth day, people work six-- per week on a 60% how many of you would continue to work on the last two days of the week? it is the same with capital. surplus income will go into tax-exempt securities and refuse to take the risk with

business this will raise the rate that established businesses will have to pay for new capital and result in a marked increase in the cost of living. if new capital will not flow into competing enterprises, the present concern and forward monopoly increasing again the prices at which, the people have to pay. he said more in that speech more than that half a century later that it would be labeled the most lucid articulation of the supply-side model in modern times. it was also noted once simply wrote he forgot all of the literary expectations and sit down the ideas as they came into his head. the result was a strange piece of writing a composition of austerity and beauty.

the true vermonter was in every line of it. yes. of a master articulation plain speaking at a has fallen victim 21 of the most egregious misunderstandings of the 20th century derided as a slave worshiper of commercial interest. the chief business of the coolie said january 1925 and these words have been hung around his neck by credit six food label him as a worshiper of commercial and business interests. those words have been repeated ever since but coolidge did say the chief business of american people we he was only warming up to the main point* that a message of considerable variants with what he has been charged by ignorance sloppy 94 plain lazy writers

ever since. here is what calvin coolidge also said that day. so long as wealth made it the means and not the end we may not fear it can never was a time when wealth was so generally regarded as a means or so little regarded as an end. only those who do not understand our people who believe our national life is entirely of soar by material motives. we make no concealment of the fact we want well but there are many other things we want very much. piece and honor and a charity which is so strong an element of all civilization spread of achieve the ideal of the american people is idealism. jaime net repeat too often america is the nation of idealism. no mere word to calvin coolidge. regarding a man who chose his carefully it is

easy to believe there were no mere words. the entire adult life was spent in public service, and bear, state representative, state senator, lieutenant governor, vice president, more offices than any other president ever held. but it was not easy for him to be a public man, to speak and to shake hands and do what ordinary politicians do as a matter of course. a horrible shyness possessed him from his earliest days and never let go. he never denied it. when i was a little fellow i was always panic if i heard strange voices in the house. felt i could not need to people. most visitors would sit with mother and father in the kitchen. it was the hardest thing in the world to have to go

through the kitchen door and give them a greeting. i was almost 10 i was realized -- 10 i realized i could not go on that way and i managed to get through the door. i am all right. every time i read a stranger i have to go through the old kitchen door back home and it is not easy. but yet he achieve more public offices and one more elections than any other president and in doing so he accomplished what he wanted and in the way he wanted. he served normally cynical cynical -- begins to see him in retrospect with an extremely uncomfortable his feelings are forgotten and the country remembers only the grateful fact that he leaded a loan.

and there are worse epitaphs if there is a day that jefferson's warnings are heated and reduce government to the simplest terms it may very well happen that to cal is resting and conspicuously with the vermont granite will come to be revered as really did to the nation some service as one might expect from a man on -- port on the fourth of july. 1872 is a miniscule her mind a collection of a dozen brawling situated halfway between ludlow and bridgewater and not particularly new anything -- near anything but hillside he was not aboard rich or poor by the standards his father was a man of means a general store

keeper former and politician his father was right to the lines he laid out were true and straight and the curves and were regular. the work he did it endured and from his father's business he learned this lesson that never left him. as i went about with my father when he collected taxes i knew when taxes were late someone had to work to earn money to pay them. of his mother victoria, he wrote to whatever was brand informed that attracted harris seemed as though the foliage came for her and in the autumn it was four per the mountainsides were struck with crimson and

gold. she died on her 309th birthday march 1885, the five years later his younger sister abigail died. she was 14. they're deaths moved him profoundly forging a greater bond between father and son buildout and forcing the already powerful crippling shyness. he studied in a one-room stone schoolhouse then later add amber's where it proved both a puzzlement to a more sophisticated classmates and habits then with the habits of the future wife none of them particularly pointing the way to the political career by a group kind the classmates has invariably grew on just about everybody is somewhat laconic speaker

graduated, what day. he did not attend law school buckler tell what offices in north hampton massachusetts. on passing the bar he said a practice of his own in entered politics and took a wife. also hailing from vermont she was nothing like him and also drifting to northampton a burr specious taught at the school for the death. she looked up and saw him shaving while wearing gave derby hat she laughed. he heard her and saw her and result to be heard they married in the parent's parlor in burlington 1905. the couple took a $27 per month lodging at

northampton. half of a of a modest white frame duplex. i attended to the furnishings seven myself he wrote and when it was ready mrs. coolidge and i walked over to it and about two weeks our first boy came evening of september 7th the fragrance of the club madness filled the room like a benediction where the mother lay with her baby. we call him john in honor of my father. it was all very wonderful to us. we like the house for our children came to us and the neighbors were so kind and we could've had a more pretentious tome we still clung to it so as long as i live there i could be independent and serve the public without thinking i could not maintain my position if i lost my office.

all the while coolidge kept rising and one determine the massachusetts house traveling he carried with him a letter of introduction that read like a singe cat he is better than he looks. [laughter] his political philosophy took shape as did his lifeline predilection to the electoral consequences said one massachusetts labor leader regarding coolidge and all my zero years of work in the legislature i have never met a man whose sense of justice and courage i had more trust. in 1918 he nearly won the governorship and found himself confronted with two crises the first involving constitutional mandates that had 118 government agencies into 20 within three years. it was a political minefield. coolidge not only avoided

tripping but did it within one year. the second and greater crisis involve the boston police force. when the september 19 the police commissioner discipline union leaders 1500 copps walked off the job leading this city unprotected violence erupted in the boston mayor it illegally removed curtis from office and coolidge reinstated curtis few call out the full state bardem broke the strike when the american federation of labor leader demanded coolidge reinstate the striking police first -- force coolidge responded, there is no right to strike against the public safety by anybody anywhere anytime.

:divisor's thought the action would alienate labor support and cost him reelection. he thought so too and did not care. it does not matter if i am elected not. but instead coolidge response caught the imagination of the american people and electrified the nation sipping him as a no-nonsense champion of law and order and swapped his opponent winning 62% of the vote and fueled the boom for president he resisted that he did not go campaign but his name was paving the way for the nomination for the 1920 republican national convention and he might have gathered more boats had the had the support from his own senator henry cabot lodge to nominate a man who lives in a two-family house? never.

[laughter] ojai a dark horse candidate won the nomination on the ballot and with the time came to nominate i vice president show candidate dave rebuild their refuse to nominate the convention choice is the guy from wisconsin instead they stampeded and nominated calvin coolidge. harding will never serve his term out they said in the press box. he will die and coolidge will be president. that november harding and coolidge got 60% of the vote against james nettleton cox and his candidate the guy you may have heard of fdr.

when they took office under the lack of responsibility responsibility, his only actual duty by the constitution was to preside over the indebted state senate and this does not take much effort. i soon found the senate had but one fixed rule subject to exceptions that the senate would do anything it wanted to do whenever it wanted to do it. when i had learned that i did not waste much time because they were so seldom applied. seven order to prove himself washington saw himself only as a silent redheaded man who warren harding was probably dumped from the ticket in 1924.

but coolidge did strike and it struck in spades. when warren harding died august 1923 coolidge was vacationing and by flickering kerosene light at 1:00 in the morning he was sworn in as president of united states of america by his 78 year-old notary public father. when a modest ceremony was complete the new president walked down the darkened road to visit his mother's grave and came back and said i think i can swing it. he did swing it. many again underestimated him and thought he would not be but no president had won renomination but president

coolidge cleaned up the whole rescue of the scandal and the veterans affairs bureau, the justice department still hold teapot dome mess. he restored face in government, public honesty and easily won renomination and that november, he elected in a three-way race and carries every state but one outside the solid south and every house from new england and the last republican president too ever carried new york city. to alleges often maligned administration provided a wide variety of constructive measures with the unprecedented economic growth from coolidge prosperity. fiscal policies boasted

still an equal accomplishment flickering a widely based economic role. unemployment average 3.3% the gnp increased annually by 7% per capita income rose 30% for a real earnings were employed wage earners increased 22% and industrial production shot up 70 percent the average workweek decrease 4% and consumer prices rose just 0.4%. no inflation. national wealth rose 70% and total education spending rose fourfold it in a decade itself automobile ownership rose threefold it literally fell by half. historians said under harding and under coolidge usa enjoy a day general prosperity that was historical unique and its experience or that of any

other society. coolidge was the last president to write his own speeches and he delivered more of them than any of his predecessors. as president he held 520 news conferences, eight per month. his inauguration address was for some reason expected to set a record for brevity but 4,005 words edged out warren harding's and the 30328 of woodrow wilson to inauguration's. it is not entirely ironic that a collection of coolidge press conference transcripts is entitled the talkative president. over the course of a three decade-long political career on any number of topics he never wasted words or minced words and here is a sample of what silent cal had to say.

regarding the most basic philosophy he contended i favor the policy of the economy now because i wish to save money but because i wish to save people. the men and women of this country who toil are the ones to bear the cost of the government. every dollar that we carelessly waste means their life will be so much more. every dollar that we save means their life will be so much more abundant economy in the most practical form. or putting it more bluntly, i am 40 economy but after that i am for more economy per car regarding taxes collecting more taxes than is absolutely necessary is legalized robbery. and high taxes make high prices regarding service. no person was ever honored.

it has been the reward. on congressional pork, the people who start to elect a man to get what he can for his district will find they can elect a man who will get what he can for himself and a nation that is morally dead will soon be financially dead. and further, if we are too weak to take charge of our own morality we shall not be strong enough to take charge of our own liberty. on politics. of the political mind is of men of public life they have been spoiled with praise and spoiled with abuse and there is only one form of political strategy of which i have any confidence that is to try to do the right thing and sometimes to succeed.

it is very difficult to reconcile the american ideal of a sovereign people capable of owning and managing their own government with the inability to own and manage their own businesses. on price controls, it is not possible to repeal allot of supply and demand of cause and effect of action and reaction. value as a matter of opinion and an act of congress has small jurisdiction over what men think. as the principles of the founding fathers, these principles have the same binding force as those revolutionary-- when he was recognized and proclaimed. i am not underwear. whatever it is, is old. what is new is our own misunderstanding of it. of our national needs we do not need more material

development but more spiritual development. we do not need more intellectual power but more moral power. we do not need more knowledge, we need more character. we do not need more government. we need more culture. we do not need more laws, we need more religion. we do not need more of the things better seen but more of those better and seen. on wages, those who do only what they are paid for will never be paid very much. on criticism, let constructive criticism is easy because despite some oratory some of us are not yet perfect. if we judge ourselves only buy our aspirations and everyone else so they buy their conduct we shall soon come to a conclusion when we have exhausted the

possibilities of criticism on ourselves, it will be time enough to apply to others. but on the art of legislating, it is much more important to pass bad bills than good ones on tough economic times, when depression and business come as we begin to be very conservative of our financial affairs and save our money and take new chances but yet in our political actions we go in the opposite direction in begin to support radical measures and cast votes for those with vance the most reckless proposals. this is a curious and a logical reaction when times are good we might take a chance on radical government but when we are financially weakened, we need the soundest and wisest of men. soaking the rich.

we cannot finance a country. we cannot improve social conditions through any system of injustice even if we attempt to inflict upon the rich. those who suffer, the harm will be the poor. this country believes and prosperity and it is the absurd to suppose for those who are already prosperous for those and other economic legislation is not to destroy those to create conditions under which everyone will have a chance to be successful. the verdict of the country has been given on that question and that verdict stands. on fair trade or protectionism, we wish you protect from the results of

dumping on our market from a price of which they could not compete. but it had a deeper significance back out we're willing to profit from distress and we do not want to their blood money to their efforts are not only to protect their own people that president mckinley said but we propose to set up a standard that would discourage other nations from exploiting their people from producing cheap goods our policy requires bear wages for both domestic and foreign production. we have no market for blood and my observation of protectionism has been successful however unsound may appear to be that must mean the theories have not taken account of all the

facts and having once toiled and regulatory reform, i always found this to be a particular interest. the attempt to regulate, the control and prescribe all manner of conduct and social relations is very old. it was always the practice of primitive people. and somewhat less bluntly, we had many attempts at regulation of industrial activity by law. some of it has proceeded on the theory those that would go to material prosperity for the wrong purposes such prosperity should be the minted or abolish. that is as sound as it would to abolish writing to prevent forgery. and you probably heard this bit of advice. maybe not knowing who came from. nothing in this world has taken the place of persistence. nothing is more common

genius will not. unreported genius is almost a proverb. education will not. of the world is full of educated derelicts. a determination alone are omnipotent have solved and always will solve the problem with the human race. the ku lynch years for a time of accomplishment and prosperity and in deed of domestic tranquillity base at khoo lynch could not enjoy his presence. the luck ran out when his younger son calvin, jr. playing tennis and the white house courts developed a blister on the right foot pathogenic blood poisoning resulted from the very

beginning the infection was serious in from the very beginning two which seemed to know it. in an age without antibiotics, calvin, jr. died july 7th. in his suffering he asked him to make him well. i could not. when he went, the power and the glory of the presidency went with it. the waves of providence are often beyond understanding incapable of what he could do i do not know why such a price was exacted for occupying the white house but to escape washington and summer doldrums they usually lead to the swamps of massachusetts are the adirondacks and wisconsin in 1927 and a summer day and

the black hills and rapid city south dakota and tuesday august 1927 exactly four years to the day after calvin coolidge became president he stood in a classroom and rapid city and south dakota and handed out tiny slips of paper that each read i do not choose to run for president 1928 the political world but he was aiming for a draft treaty was not in march 1929 he retired and reluctantly handed over the country to his former secretary of commerce herbert hoover but he was not crazy about herbert hoover. he said that man has given me nothing but a vice and all of it bad. [laughter] and retirement to lynch double that law $3,000 per week with a syndicate a popular newspaper column

that a boy dick autobiography -- and his world was not a different world and he moved back only to discover the next president had not live-- lived 82 family house. of those crowd of curiosity seekers rolled by in constant procession wended myers trespassed on his porch and trampled on his lawn and peered through the windows. he paid $40,000.2 move to larger quarters, the 16 rooms on 9 acres overlooking the connecticut river, a house far grander but far less grand than pennsylvania avenue. hit was there that he died thursday january 5, 1933 disturbed by a great

depression still saddened by his young son's pet passing the return home from his offices at noon and as he shaved day at heart attack felled him. they bury him at plymouth notch in the family graveyard next to his mother and father and sister and the sun. in the most will grave of the of any american president. no signs directing to direct visitors are no date surrounds it or words indicate the many offices he has held. no words. that is the way calvin coolidge would have wanted it. thank you very much. [applause] >> please wait for the

microphone. your words will be reaching a grateful nation. [inaudible] [inaudible]

[inaudible] >> to cover a lot of ground because she raised some things that i did not cover when i spoke. he did not favor the league of nations because i think america and public opinion was mixed on the topic originally has really moved on from that point* and even when you see franklin roosevelt coming yen in 1933 with a solid democratic congress house and senate uc america never moves into the league of nations it was not

just harding and coolidge but also rovell -- rose about even though he may have come up with the league of nations 2.0 101945. he did favor u.s. participation in the world court and avoided the threat of four there is a possibility with mexico he avoided that and restored good relations with that and withdrew u.s. troops from nicaragua and attended the conference in havana. beyond that there was a five power naval treaty does became of vice president and from international foreign policy see you can see a lot of things going on.

she was four farm aid did that choice. that was very controversial at the time but very inconsistent on that point* i think that was the point* but i think he would agree with your assessment any other questions? in the back. >> [inaudible] it. >> i don't know and some people say they did know they were unverified where

he said poppins says there is a depression coming like it is time to scram and the business cycle has been very cyclical so in the 1890's you have grover cleveland major depression and a cat -- under the teddy roosevelt and woodrow wilson depression of 1920 and 21. these things came about every 10 years was the question how you dealt with them. there is a lot of questions seriously depressed over the death of his son which was quite rational but took the steam and glory of the president before him and more so in 1926 his father

died he may have been closer to his father than anyone else. he has ceased to personal tragedies clouding his presidency and not feeling well. 1932 wanted to speak for herbert hoover aside from his personal feelings he does not want to do it. and as a matter of fact he is dead before roosevelt takes office he has that a heart problem and i think he had accomplished and he went all the way. what more was there to do? so he was not a great man it was not essential for him to hold public office you have

been eight awp jihadis? yes. holding elected office. it does not mean that much where was the absolute compulsion you have another question? it was a very disconcerting age to rewrite about now. [laughter] >> this is a terrific book. i realize you're a historian. i heard that on c-span there are future aspects of the coolidge philosophy probably

for the first time since he left his presidency. i hear a lot of coolidge in the two-party. do think it is possible that the philosophy is not antiquated but implemented? >> i am a historian not a profit. [laughter] but they go in cycles. and reagan although not a big fan of fdr he became more conservative and a big coolidge finance and replaced a portrait of harry truman that hung in the white house that surprised fl of a lot of people. and in this very year we heard glen beckham resurrect the coolidge philosophy and

persona and the tv show and cpac. i think the timing may to be right to. and according to the founding fathers reseal lot of similarities in that philosophy and we are seeing so much more of an interest in the founding fathers where this might carry over and we have a continuation that is so pure, and in implementing so effective. but politicians stand up in front of you and then they say i will cut spending and balance the budget and reduce the debts and cut out the wasted government. but they never do it. they never do it.

calvin coolidge did it and then say he did not accomplish anything. and he did everything that every politician ever promised to do. that is not too bad of an act to follow. >> he thought they might be overstating. [inaudible] even though i did not well raise taxes. also wonder what the principles. >> [inaudible]

>> i have not consulted him on that. [laughter] but a fee he would be quite adept at this level of deficit in particular in peacetime, i guess you could say there has been a rash and afghanistan with the same circumstances but nonetheless this level of deficit spending gives pause to everyone and you can see right now the voices in the administration are suddenly worried about but to say maybe we worried that we spent too much or maybe there is another tax. maybe the value added tax which is on top of the national sales tax.

any further questions? >> a blogger friend of mine talked about the chicken farm. >> not the chicken farm. >> it is a great story. >> it is probably not true. why don't you tell it? [laughter] you tell the story. >> while he is president they go on a separate tour hearing route this fantastic brewster -- rooster. [inaudible]

[laughter] tell that to mrs. coolidge. [laughter] >> on that note, regarding the coolidge speech in favor of hoover of madison square garden a lady came up afterwards i enjoyed your talk so much that i stood the entire time. he said so did i. [laughter] and i have enjoyed this to. thank you for coming. [applause]

>> host: i am larry johnson and former employee of the central intelligence agency with counterterrorism and considered somewhat of an expert on terrorism because i can smell it too but today we have the opportunity for the ultimate reader fantasy with the program after words to meet with an author. if you read the book i think all of you with the audience would want to have a chance to say i would like to ask him some questions. today, market, i am glad we have the opportunity to speak with you about your book. talking to caris.

>> the first question is the hardest question. i am a historian and author and one life and a middle east activist an analyst in another life. this book talking to terrorist is a combination of both because it refers to the history of me region while giving readers the insight into what is going on there and what the strategy is for the united states in dealing with the real challenge of terrorism. >> host: how did you get into becoming, part of your biography is military, intelligence now writing on terrorism. how did you make that transition quirks did you come at a college saying i will be a military intelligence? >> i thought i would be ernest hemingway. >> host: you have written several books. >> guest: i did not become